USDCAD facing bearish pressure, potential for more downside!

٦ مايو ٢٠٢١

USDCAD is facing resistance from horizontal swing high resistance, 61.8% Fibonacci retracement and 78.6% Fibonacci extension. Prices might push down towards -27.2% Fibonacci retracement and 161.8% Fibonacci extension fibonacci confluence area. If prices push up further, prices might face resistance from 2nd resistance in line with 127.2% Fibonacci retracement and 161.8% Fibonacci extension. Ichimoku cloud is also above prices, showing a bearish pressure for prices.